Jalen Suggs' Extension Proves the Magic Put Money Where Their Mouth Is

The Orlando Magic's $150.5 million bet on Jalen Suggs is the team's latest investment in roster continuity. Their 2024-25 NBA season begins Wednesday in Miami. All that's left to do is go play.

Orlando Magic guard Jalen Suggs (4) warms up before the game against the Philadelphia 76ers at Kia Center. / Mike Watters-Imagn Images

ORLANDO – Three weeks ago on media day, Orlando Magic president of basketball operations Jeff Weltman was pressed with one final question.

How dedicated are you to keeping this core together?

Weltman, who had spent the previous 14 and a half minutes discussing the importance of continuity — the investment put in the Magic's upward trajectory — gathered his thoughts and answered.

"I think our actions prove our intentions," Weltman said. "I'm not just talking it, I'm walking it."

Guard Jalen Suggs was still looking for a rookie contract extension, but Weltman made it clear that the rising fourth-year guard was "a big part of what we're doing." He affirmed that Orlando was in good standing with Suggs' representatives and that each side was hopeful for a deal.

Less than an hour later, in front of the same set of microphones, Suggs laid out his side.

"I want to be here," Suggs said. "I don't want to be anywhere else."

On Monday – three weeks exactly from media day – Suggs signed a five-year, $150.5 million extension, solidifying him as a long-term piece of the Magic's future and continuing Orlando's policy of extending young talent from their rookie deals.

In doing so, the Magic have put their money where their mouth is. Again.

Suggs, the No. 5 overall pick in the 2021 NBA Draft, is Orlando's latest development success story. The Magic's lead dog on defense turned himself into a reliable three-and-D option last season, shooting a career-best 39.7 percent from three while earning an NBA All-Defensive Second Team selection.

2023-24 was Suggs' healthiest year to date, playing and starting 75 of the Magic's games in a season that saw Orlando go back to the playoffs on the back of 47 wins. On top of his personal high three-point percentages, Suggs made jumps in points (12.7), FG% (47.1), eFG% (57.8) and steals per game (1.4).

"Jalen is a growing player," Weltman said. "Jalen got a lot better [and] is going to continue to get better."

Now, the Magic and Suggs are free to grow together for the next six years.

"This place raised me," Suggs said. "They've been part of my growth as a human being (at) a pivotal point in my life – not my career. In my life. Coming in here as a 19, going on 20-year-old young man, this place has seen all my ups and downs, has experienced all that I have. This is where I have lived, where my family has called home for the past four years.

"For as long as I'll be here, this place has my whole heart. I just can't wait to continue to come out here on the court and show how appreciative and grateful I am for this place and everything they've done for me through my play and everything I do."

Suggs' high character was again evident on Monday during the Magic's annual Pick, Read and Roll event inside the Kia Center. Thousands of Orange County elementary school kids flooded the arena's lower bowl with noise and cheers for the Magic players as they came out one by one.

While the most consequential negotiations of his career were ongoing between his representatives and Magic officials, there was Suggs surrounded by teammates and grabbing the microphone to speak to the kids in attendance. They hung on his every word.

Suggs is outward and visible with his faith. Aside from that, it's these people Orlando's young guard surrounds himself with and leans on in times of need. It's this organization that invested in his future, both figuratively and fiscally, and now has deemed him an integral part of the team going forward. It's this community he's entrenched himself in and they return his love.

That's what makes it so easy for Suggs to give his all to Orlando. And, that's why this deal getting done never felt like an if, but when.

Orlando Magic guard Jalen Suggs (4) celebrates after he made a basket against the Atlanta Hawks during the second half at Kia Center. / Kim Klement Neitzel-Imagn Images

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All future salary cap figures utilized in this section are courtesy of Spotrac.

Suggs' guaranteed deal comes in at a $30.1 million average annual value, but is structured to ascend in value and maintain at or around 16% of the Magic's salary cap.

The deal kicks in beginning in 2025-26, in which Orlando has 12 players set to be under contract. Moritz Wagner, Cory Joseph and Caleb Houstan 's contracts each have club options for the season, affording Orlando around $16.5 million of flexibility. Should Orlando return all 15 players from this year into next – a highly unlikely scenario in the current NBA – Orlando is on the books for $190 million in active cap for next year.

That would put Orlando slightly above the luxury tax, but a few million underneath the harsh, restrictive first and second tax aprons.

"There are external forces in this league," Weltman said. "And I've told you guys many, many times, they're coming at us like they're coming at everybody else. This CBA is going to put financial constraints on every single team, and we're no different. So that will be one of our challenges going forward, is to keep the train on the same tracks."

Next summer, the big domino facing Orlando is Paolo Banchero's rookie contract extension. Should he receive the maximum offer available on rookie extensions, which accounts for 25% of a team's salary cap, Orlando would have around $600 million in total contracts invested in the trio of Banchero, Franz Wagner and Suggs.

In the case Banchero accepts, his deal wouldn't kick in until 2026-27. As of now, Orlando's books have just five players set to be under contract during that season, and an agreement with Banchero would make six. A big reason why Orlando's negotiations often include player or club options in deals is to maintain flexibility, and the Magic front office has avoided pigeonholing itself into one course of action for the future.

Doing the deal now makes sense for Suggs, too. With more teams tying up money in extensions, not everyone has the freedom to spend in the summer and throw figures gaudy enough to lure talent away from their original team.

Orlando puts a $150-million vote of confidence in its young guard, and Suggs earns a payday that represents his contributions both up until now and expected in the future.

With the extension settled, all that's left to do is go play.

Related Stories on the Orlando Magic

• MAGIC, SUGGS AGREE TO EXTENSION: The five-year deal is worth $150.5 million, per reports. CLICK HERE
• MCCLUNG READY TO GIVE EVERYTHING: The Orlando Magic converted Mac McClung's Exhibit 10 contract into a two-way deal, the team announced on Sunday. Now, the newest member of the Magic is ready to give everything he has. CLICK HERE
• HOW TO WATCH THE MAGIC THIS SEASON: What the rebrand of Bally Sports to FanDuel Sports Network means for how you can watch the Orlando Magic this year. CLICK HERE
• MAGIC STOCK REPORT: Now's a good time to take a look at three players — Paolo Banchero, Anthony Black, and Franz Wagner — and what their preseason performances could mean in the new year. CLICK HERE

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